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How Jeff Bezos, Bill Gates, Others Made $255 Billion In 2 Months Amid Covid-19

Jeff Bezos, photo Credit: Getty Images

The world’s economy may be doing bad for its poorest people due to the coronavirus pandemic.

But for the 25 richest billionaires in the world, with or without the coronavirus, they are still making fortunes.

It is amazing how in just two months in the midst of coronavirus which has crippled several businesses and livelihoods globally, the 25 richest billionaires were able to collectively raise $255 billion.

Several companies and nations like United Kingdom are running into huge debts occasioned by the pandemic outbreak but the billionaires remain steadfast in wealth creation through their respective companies.

The 25 of them are those on Forbes’ list of the world’s billionaires.

And as the US Stock Market hit a mid-pandemic low on Saturday, May 23, 2020, they together gained an astonishing $255 billion.

The net worth change is from Monday, March 23, to Friday, May 22, 2020.

Leading the way for big gains in the midst of coronavirus are billionaires with net worths tied to shares in tech firms.

Making the biggest dollar gain at the end of the day is Facebook’s Chief Executive Officer, Mark Zuckerberg.

Mark Zuckerberg, photo Credit: Getty Images

Facebook shares grew by nearly 60% over the past two months, hitting a record high on Friday May 22.

Zuckerberg’s $86,5 billion net worth went up by $31.4 billion.

Colin Zheng Huang, the founder of China’s second biggest online marketplace, Pinduoduo, emerged the biggest percentage gainer for the day.

Huang, aged 40, added $17.9 billion to his wealth, becoming China’s third-richest person with a total wealth of $35.6 billion.

Asia’s richest man, Mukesh Ambani, is among the gainers.

His Mumbai-based Reliance Jio, a telecommunication company, raised $10 billion of fresh capital within a period of less than one month, with Ambani’s worth now estimated at $52.7 billion, up by about $20 billion.

The world’s richest man and Amazon CEO, Jeff Bezos, also increased his wealth.

His net worth of $146.9 billion, went up by $29.9 billion, with source of his wealth being Amazon.

Of course Bill Gates who has been criticized over the coronavirus pandemic, has not been left out in the wealth generation spree.

Mr Gates added some $11.9 billion to his net worth estimated at $106.5 billion. Source of his wealth is said to be Microsoft.

Bill Gates, photo Credit: Getty Images

French business tycoon, Bernard Arnault, raked an additional $12.8 billion to up his net worth of $94.1 billion.

The tech-heavy Nasdaq composite index turned positive for the year earlier this month, and it’s up 37% since March 23. Also, the S&P 500 and Dow Jones, meanwhile, are up about 31% each–still down roughly 10% and 15% for the year, respectively.

Also,   three Walmart heirs namely Rob, Alice and Jim, have seen rise in their respective net worths during a time where a single top 25 fortune has not fallen since March 23.

The fortunes of Jim, Alice and Robert Walton, increased the least percentage-wise.

But the three are still up $3.6 billion each. Walmart shares hit an all-time high in mid-April after the first round of stimulus checks made their way to American bank accounts, and they’ve managed to stay near their peak.

On Tuesday, the firm reported quarterly revenue that surged almost 10% to $134.6 billion, boosted by a 74% increase in online sales. Combined, the three billionaire Walmart heirs are worth close to $165 billion.

Below African Entertainment presents the full list

1 | JEFF BEZOS

NET WORTH | $146.9 BILLION, UP $29.9 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | AMAZON

2 | BILL GATES

NET WORTH | $106.5 BILLION, UP $11.9 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | MICROSOFT

3 | BERNARD ARNAULT

NET WORTH | $94.1 BILLION, UP $12.8 BILLION
COUNTRY | FRANCE
SOURCE OF WEALTH | LVMH

4 | MARK ZUCKERBERG

NET WORTH | $86.5 BILLION, UP $31.4 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | FACEBOOK

5 | WARREN BUFFETT

NET WORTH | $69.2 BILLION, UP $6 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | BERKSHIREHATHAWAY

6 | LARRY ELLISON

NET WORTH | $66.4 BILLION, UP $10.4 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | SOFTWARE

7 | STEVE BALLMER

NET WORTH | $65.4 BILLION, UP $14 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | MICROSOFT

8 | LARRY PAGE

NET WORTH | $63.6 BILLION, UP $14.2 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | GOOGLE

9 | SERGEY BRIN

NET WORTH | $61.3 BILLION, UP $13.7 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | GOOGLE

10 | AMANCIO ORTEGA

NET WORTH | $60.5 BILLION, UP $5.2 BILLION
COUNTRY | SPAIN
SOURCE OF WEALTH | ZARA

11 | JIM WALTON

NET WORTH | $55.2 BILLION, UP $3.6 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | WALMART

12 | ALICE WALTON

NET WORTH | $55 BILLION, UP $3.6 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | WALMART
Alice Walton PHOTOGRAPH BY TIM PANNELL/THE FORBES COLLECTION

13 | ROB WALTON

NET WORTH | $54.8 BILLION, UP $3.6 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | WALMART

14 | FRANCOISE BETTENCOURT MEYERS

NET WORTH | $54.2 BILLION, UP $6.4 BILLION
COUNTRY | FRANCE
SOURCE OF WEALTH | L’OREAL

15 | MUKESH AMBANI

NET WORTH | $52.7 BILLION, UP $19.9 BILLION
COUNTRY | INDIA
SOURCE OF WEALTH | OIL & GAS, PETROCHEMICALS

16 | CARLOS SLIM HELU

NET WORTH | $51.2 BILLION, UP $4.2 BILLION
COUNTRY | MEXICO
SOURCE OF WEALTH | TELECOM

17 | MACKENZIE BEZOS

NET WORTH | $47.8 BILLION, UP $10.4 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | AMAZON

18 | MA HUATENG

NET WORTH | $46.4 BILLION, UP $6.8 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | INTERNET MEDIA

19 | JACK MA

NET WORTH | $41.3 BILLION, UP $3 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | E-COMMERCE

20 | PHIL KNIGHT

NET WORTH | $37.7 BILLION, UP $9.9 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | NIKE

21 | ELON MUSK

NET WORTH | $36.7 BILLION, UP $9.5 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | TESLA MOTORS, SPACEX

22 | COLIN ZHENG HUANG

NET WORTH | $35.6 BILLION, UP $17.9 BILLION
COUNTRY | CHINA
SOURCE OF WEALTH | E-COMMERCE

23 | FRANCOIS PINAULT

NET WORTH | $31.8 BILLION, UP $2.1 BILLION
COUNTRY | FRANCE
SOURCE OF WEALTH | LUXURY GOODS

24 | SHELDON ADELSON

NET WORTH | $30.7 BILLION, UP $1.4 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | CASINOS

25 | MICHAEL DELL

NET WORTH | $28.3 BILLION, UP $3.5 BILLION
COUNTRY | UNITED STATES
SOURCE OF WEALTH | DELL COMPUTERS

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